Understanding the financial health of an organisation and budget management are baseline expectations for hospitality professionals involved in decision-making for the organisation. This workshop is designed to assist hospitality professionals in developing a sound understanding of financial statements; how to read and interpret financial statements; analyse operating performance and manage an operating budget.
These modules provide a logical introduction to the context of hospitality accounting, hospitality financial accounting reports and management tools for decision-making. No prior experience in hospitality accounting or finance is required for embarking on the journey to achieve financial literacy for any hospitality professional.
Who should attend?
This workshop is invaluable to hotel supervisors and executives who need to analyse, and interpret financial statements to obtain an accurate understanding of operating performance and to manage income and expenses in daily operations.
Benefits of Workshop
After completing the workshop, participants will be able to:
- Understand and read essential financial statements common in hospitality establishments
- Perform operating performance analysis
- Prepare budgets and conduct budget analysis
Course Duration & Structure
Kindly refer to the CET Programme Calendar or contact our friendly course consultants for more information.
Our workshop takes a problem-based approach to learning, and we build each topic around realistic case studies and scenarios. The facilitator leads the discussions and is available to answer any questions about the workshop content during the session. All attendees are encouraged to be participative, share and interact with fellow participants during the session.
Participants must achieve a minimum attendance of 75% to receive a Certificate of Participation awarded by SHATEC.
Understanding Financial Statements
- Introduction to different types of financial reports
- Significance of different financial reports
- Focus 1 – The Balance Sheet
- Focus 2 – The Income Statement
Analysing Operating Performance
- Ratios useful for Balance Sheet & Income Statement analysis
- Use of ratios in analysis of operating performance
- Steps in conducting a simple operating performance analysis
Budgeting & Budgetary Controls
- Introduction to operating budgets
- Steps in preparing an operating budget
- Budgetary control techniques used in hospitality industry operations
- Significance and application of cost-benefit analysis in operational decision-making
Tan Mei Yin
|Ms. Tan Mei Yin is a qualified certified public accountant and financial professional analyst with 15 years of corporate finance experience. She also possesses a Master of Business Administration from Anglia Ruskin University and a Bachelor of Business in Accountancy from the Royal Melbourne Institute of Technology. Mei Yin now takes on adjunct teaching positions with various educational institutions in the areas of business, finance and accounting lecturer. In her freelance teaching positions, Mei Yin travels regularly to various overseas universities for exchange programmes and seminars, as well as to conduct coaching sessions in finance-related courses. A resourceful problem solver and delivery expert, Mei Yin currently focuses on coaching and developing individuals to become great problem solvers for their organisations as well as in their personal lives.|
|Singaporean / Singapore PR (Inclusive GST)||International
|Full Course Fee (Before GST)||$500.00||$500.00|
|7% GST on Full Course Fee||$35.00||$35.00|
|Full Course Fee, incl. GST||$535.00||$535.00|
|E2i funding support for PMEs, Singaporeans/PRs sponsored by companies||$210.00||N.A.|
|Total Nett Course Fee Payable, incl. GST (applicable for PMEs, Singaporeans/PRs sponsored by companies)||$325.00||N.A.|